Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench

Gold and Silver Market morning, December 03, 2012

IMG Auteur
 
Published : December 03rd, 2012
473 words - Reading time : 1 - 1 minutes
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : GoldWire

 

 

 

 

Gold Today –New York closed at $1,713.20 on Friday. This morning, Asian and London dealers lifted the gold price to $1.719.50. It was Fixed at $1,718.00 down on Friday’s p.m. Fix but up from New York’s lows then. In the euro it was Fixed at €1,317.586 down €12, while the euro was slightly stronger at €1: $1.3026. Ahead of New York’s opening, gold was almost the same as Friday morning’s level at $1,729.55 and in the euro at €1,327.67.


Silver Today – Silver closed in New York at $33.37 on Friday. In Asia and London’s start to the week, silver opened at $33.63 then slipped to $33.50 in London. It then traded at $33.50, ahead of New York’s opening.


Gold (very short-term)



Gold is expected to consolidate with a positive bias, in New York today.


Silver (very short-term)


Silver is expected to consolidate with a positive bias, in New York today.


Price Drivers


Gold & Silver – With the Technical picture still favoring the downside, traders and speculators in New York tried to push gold and silver prices down and succeeded in taking it to $1,713.21 a low higher than the previous couple of days at $1,705. So now we are in the consolidation phase again with a pennant shape forming. As this narrows so we must again prepare ourselves for a strong move, either way likely later in the week.


As Cyprus asks for a bailout this week, we see the Eurozone debt crisis continue. They need a bailout because the losses they suffered on their buying of Greek bonds and the haircut they had to take when the value of these dropped 75%. This domino effect will continue, exacerbated by the deepening recession in Europe making sure that this problem will not go away. The failure of the E.U. to stimulate growth effectively tells us that the crisis has years to run, at least.


Over in the States the harsh political structural realities point to a major confrontation pushing through to the last moment towards the brink of the ‘fiscal cliff’. Its votes that count not financial common sense! [Subscribe to our newsletters at www.GoldForecaster.com and www.SilverForecaster.com]


Silver – Silver’s fundamentals are looking very good indeed. With demand rising in the face of global economic growth and even in recession-bound Europe and investment demand solid in the face of the decaying developed world monetary system the prospects for silver in 2013 look good any which way you look at it. With costs of producing an ounce still a small percentage of the price, pure silver mining and silver/gold mining shares that pay dividends, look to lead the pack in 2013.


Regards,


Julian D.W. Phillips for the Gold & Silver Forecasters


Global Gold Price (1 ounce)

Today

3 days ago

Franc

Sf1,603.74

Sf1,596.84

US

$1,723.25

$1,719.25

EU

1,328.69

€1,322.25

India

Rs.92,542.83

Rs.92,607.40


 

 

Data and Statistics for these countries : Cyprus | India | All
Gold and Silver Prices for these countries : Cyprus | India | All
<< Previous article
Rate : Average :0 (0 vote)
>> Next article
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Why we should abandon the State
28 Julovertheedge
What a gigantic pile of horse excrement. Cherry pick everything that has gone wrong. Completely discount the hard fact that the author and ...
Iran Agreement Boosts Peace, Def...
26 Julkeith95
How about the US invading Afghanistan in 2001, Iraq in 2003 ... leading to the current unrest in the middle east while supporting the 'Saudi's' ......
Take Possession of IRA Metals We...
24 Julericgolub
Internal Revenue Code 4975 language suggests that whether the gold is held directly by the IRA or by an IRA LLC (which is nonetheless still subject...
Gold Miners Nearing Rebound
24 Julsonora69
Silver has already made a 50 cent down and up round trip as of 3:30. This is happening on a Friday, with the stock markets failing to make an advan...
Why Pensions Are A (Big) Black Swan
25 JulS W.1
No (pensions) are not a black swan, which is totally random unforeseen event.
Iran Agreement Boosts Peace, Def...
23 Julsonora69-2
Doesn't anyone remember the Iran hostage crisis, when Iran held 52 American diplomats and citizens hostage for 444 days in 1979-1981. How about 198...
What Do Greece and Louisiana Hav...
23 Julovertheedge
"The US financial system isn’t any better. ... , Actual currency is just a little over $1.36 trillion. ..." And it is assumed that about h...
Why Are We Here?
23 Julovertheedge1
No "woe is me" here. Just another buying opportunity. Using leverage is not buying, it is borrowing. It ain't bought til it's paid off....
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Mining Company News
Arianne Phosphate(Ur-Mo-Ti)DAN.V
Extends the Term of Warrants
CA$ 0.84-4.55%Trend Power :
Financings
Anaconda Min.(Au)ANX.TO
Reports 12.83 g/t Gold Over 4.38 Metres and 8.55 g/t Gold Over 4.97 Metres from Channel Sampl
CA$ 0.04+12.50%Trend Power :
Corporate news
Capstone Mining(Ag-Au-Cu)CS.TO
Second Quarter 2015 Financial Results
CA$ 0.97+7.78%Trend Power :
Financials
Taseko(Au-Cu-Mo)TKO.TO
and Soda Creek Indian Band Sign Participation and Cooperation Agreement
CA$ 0.65-1.52%Trend Power :
Corporate news
Tinka Resources(Ag)TK.V
commences 10,000 metre drill program at Ayawilca zinc project, announces new IP results & tar
CA$ 0.17+0.00%Trend Power :
Corporate news
Sandstorm Gold(Cu-Mo-Au)SSL.V
Files Early Warning Report
CA$ 3.16+0.32%Trend Power :
Corporate news
Crown PointCWV.V
Provides Operational Update and Announces Executive Change
CA$ 0.14+0.00%Trend Power :
Corporate news
Cardero Res.(Ag-Au-Cu)CDU.TO
Announces Acquisition of the Advanced Zonia Copper Oxide Project in Arizona
CA$ 0.01+0.00%Trend Power :
Corporate news
Vista Gold(Cu-Le-Zn)VGZ.TO
. Announces Receipt of an Additional A$5.9 Million Net Tax Refund Under the Australian Govern
CA$ 0.35+4.48%Trend Power :
Corporate news
First Majestic(Le-Zn-Au)FR.TO
announces friendly acquisition of Silvercrest Mines
CA$ 4.05-1.70%Trend Power :
Corporate news
Comments closed